What Property Managers Should Know About Market Performance

“What Property Managers Should Know About Market Performance”
NREI – Aug 10, 2018

It’s easy to get caught up in the day-to-day routine of putting out fires. But as all-encompassing as that might be, fires are only part, and in a sense, the least impactful part, of a professional property manager’s role. Of course, we have to address the needs of our tenants in a timely and professional manner. But we also have to respond—rather proactively provide answers—to our ownership clients. This means looking beyond the day-to-day to see and understand what’s happening around us in the greater environment of commercial real estate value. This is the specific role of IREM’s annual Income/Expense Analysis Reports. The 2018 edition, which was released earlier this month, reveals some interesting trends with which property managers can evaluate the performance of their properties against the larger market and, if necessary, create strategies to enhance that value.